Luxury doesn’t come cheap. But once in a while, there’s an incredible bargain.
For about $1,200 a square foot – comparable luxury units in similar buildings sell upwards of $1,700 a square foot – the buyers of a handful of remaining suites at the St. Regis Residences at 311 Bay St. can live the high life in a prime downtown location.
The brand-new suites are sophisticated and modern, decked out with Italian hardwood flooring, solid wood doors, Downsview kitchens, Miele appliances, pot lights, 10-foot coffered ceilings and other high-end finishes. The available units range from 1,445 to 1,861 square feet in one-bedroom-plus-den and two-bedroom layouts, priced from $1.065 million.
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“This is the type of quality construction you cannot find elsewhere in Toronto. The spaces are beautiful and the prices so reasonable,” says Wanda Cowie, sales representative with Royal LePage Johnston & Daniel Division. “There are incredible details, high quality finishes. This is seriously the best value in the city.”
With closings as soon as 30 days, “walk in and its yours,” says Cowie.
The condos were originally part of the Trump International Hotel and Tower Toronto (Donald Trump never owned it; the Trump name was licensed).
After the project was sold to JCF Capital, millions of dollars in upgrades were carried out and it was rechristened as the St. Regis Residences in 2017. The rebranding of the Hotel to the St.Regis occurred early in 2019 following an extensive renovation and update. One-hundred-and-eighteen condos sit on top of the hotel, starting at the 34th floor and going up to the 58th.
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The building’s amenities provide a pampered lifestyle.
The condo concierge can assist with arranging residents’ daily itineraries. Residents enjoy access to all amenities of the 31-storey hotel below, including the award-winning Louix Louis restaurant, bar, fitness centre, pool, spa and can purchase hotel services such as room service, housekeeping and laundry.
The upscale brand is the legacy of American tastemaker John Jacob Astor IV, founder of the five-star St. Regis hotel in New York City, known for its impeccable style and service.
Astor, once one of the richest men in the world, apparently came up with the name for the world famous hotel on a suggestion from his niece. She thought he should name the hotel after a beautiful lake in the Adirondacks in upstate New York where the Astor family was vacationing.
Astor subsequently discovered that the lake was named after a 17th century French monk named Francis Regis. The monk, who was known for his hospitality to travellers, was canonized in the 18th century.
And, of course, the world renowned cocktail, The Bloody Mary, was perfected at The St. Regis New York in 1934 and continues to be its signature drink.
The St. Regis Toronto is the luxury brand’s first hotel in Toronto, operated by Marriott.
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The building offers more than timeless, elegant style: its location makes it convenient to all downtown Toronto has to offer.
“It’s a beautiful building nicely situated in the Financial District,” Cowie says. “You have Pusateri’s Fine Foods and many restaurants all around you and access to the PATH.”
Unlike other luxury hotel residences such as the Four Seasons or Shangri-La, the people buying into the St. Regis Residence are younger than you might expect, says Cowie.
“Initially, it was an older demographic downsizing from large homes, but now it’s a lot of young single professionals, young married couples and young families, where both parents work in the downtown core. They love it and can walk to work. It’s more a cosmopolitan lifestyle, similar to New York or London.
"It’s a newer way for people to live, "says Cowie. "You have no commute and have the space and luxury of a beautiful condo.”
